First Trustconfluence Correlations

FOVCX Fund

USD 17.73 0.18 1.01%

The current 90-days correlation between First Trustconfluence and Materials Portfolio Fidelity is -0.11 (i.e., Good diversification). The correlation of First Trustconfluence is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

First Trustconfluence Correlation With Market

Modest diversification

The correlation between First Trustconfluence Small and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trustconfluence Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trustconfluence Small. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with First Mutual Fund

0.99

FOVIX

First Trustconfluence

Pair Corr

Moving against First Mutual Fund

0.52	FTMAX	Franklin Templeton	Pair Corr
0.5	FTMCX	First Trust Multi	Pair Corr
0.47	VARCX	First Trust Merger	Pair Corr
0.47	VARAX	Vivaldi Merger Arbitrage	Pair Corr
0.45	VARBX	Vivaldi Merger Arbitrage	Pair Corr
0.39	FDHCX	First Trust Short	Pair Corr
0.39	FDHAX	First Trust Short	Pair Corr
0.36	FDHIX	First Trust Short	Pair Corr
0.33	VSCIX	Vanguard Small Cap	Pair Corr
0.65	PQTNX	Pimco Trends Managed	Pair Corr
0.57	FMCRX	Federated Mid Cap	Pair Corr
0.55	TWN	Taiwan Closed	Pair Corr
0.48	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.48	AZNCX	Allianzgi Income Growth	Pair Corr
0.47	PASVX	T Rowe Price	Pair Corr
0.47	PRVIX	T Rowe Price	Pair Corr
0.47	MIDSX	Midas Fund Midas	Pair Corr
0.45	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.45	GMCQX	Gmo Equity Allocation	Pair Corr
0.44	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.4	FCISX	Franklin Income	Pair Corr
0.39	GSCYX	Small Cap Equity	Pair Corr

Related Correlations Analysis

	FMFTX	REMVX	OPTCX	FBANJX	FVKVWX
FMFTX		0.2	0.41	0.54	0.17	FMFTX
REMVX	0.2		0.73	0.77	0.77	REMVX
OPTCX	0.41	0.73		0.84	0.85	OPTCX
FBANJX	0.54	0.77	0.84		0.65	FBANJX
FVKVWX	0.17	0.77	0.85	0.65		FVKVWX
	FMFTX	REMVX	OPTCX	FBANJX	FVKVWX

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First Trustconfluence Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze First Trustconfluence's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FMFTX	0.87	0.02	(0.02)	0.12	0.91	(0.94)	1.81	(1.73)	3.47
REMVX	0.68	0.12	0.10	0.23	0.69	(0.83)	1.47	(0.86)	4.38
OPTCX	0.16	0.00	(0.21)	0.04	0.13	(0.22)	0.40	(0.40)	1.01
FBANJX	0.49	(0.01)	(0.04)	0.04	0.65	(0.51)	0.96	(1.05)	2.76
FVKVWX	0.65	0.05	0.04	0.14	0.77	(0.72)	1.49	(1.29)	3.69

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